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E-Commerce Company, Jumia Records Massive Losses...See Staggering Details
Posted by George on Fri 23rd Sep, 2016 - tori.ngone of the leading commercial e-commerce companies in Nigeria has encountered a massive loss as Nigeria endures a turbulent time in recession.
Jumia, Rocket Internet's e-Commerce group in Nigeria and Africa has just released its 2016 half year consolidated result showing the company recorded a net loss of EUR35.4 million within the period.
When compared to its net loss recorded last year, the company has managed to reduce its loss by 19%. In the first half of 2015, the company recorded a net loss of EUR 43.7 million.
Also on the topline, Jumia's revenue also fell by 56%. With the first half of this year, net revenue was EUR33.0 million compared to last year when it recorded EUR75.8 million f0r the first half of 2015.
When compared to its net loss recorded last year, the company has managed to reduce its loss by 19%. In the first half of 2015, the company recorded a net loss of EUR 43.7 million.
Also on the topline, Jumia's revenue also fell by 56%. With the first half of this year, net revenue was EUR33.0 million compared to last year when it recorded EUR75.8 million f0r the first half of 2015.
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